Peranghi Economic Gold Resource Continues to ExpandIn 2021, we received very encouraging drill data from Peranghi with excellent oxide grades at depths down to 50 m.
During fiscal year 2022, 1,200m over 25 holes were drilled at Peranggih to a maximum depth of 70m, at 20m by 20m spacing, targeting a steeply dipping high-grade mineralized structure.
Approximately 70% of holes hit gold mineralization above an oxide cut-off (>0.35g/t Au) at less than 50m below the surface, defining a mineralized zone 830m long and 60m wide.
Average depth was 48 m.
Those dimensions define a potential economic volume of approximately 1.9 million cu m using high intensity sampling of 20 m by 20 m.
Removing 30% dilution for the dry holes, we have about 1.25 million cu m of economic gold resource above 50 m.
Using a SG of 2.25, this volume converts to about 3 million tons of economic gold resource.
Assuming an average grade of 1 gm per ton, that deposit contains about 100,000 ounces of oxide gold
We know also that the aurefierous zones keeps expanding to the North and that fresh sulphides exist in the basement lodes below 50 m.
Mining was suspended at Peranghi in April 2022 due to heavy rains affected road conditions requiring stability permits.
Hopefully the road was opened in Q1 ..this quarter.